The cryptocurrency market remains under pressure as Ethereum experiences a significant decline. However, amidst this downturn, CORE tokens show signs of growth.
CORE – A Strong Rebound from Key Support
CORE has been consolidating in a falling wedge pattern since April 2024. After a persistent downturn, the price reached a crucial support zone around $0.38, where buyers aggressively stepped in. This led to a rebound to $0.49. The MACD indicator suggests a potential shift to bullish momentum. If the uptrend continues, CORE could face resistance at the upper trendline of the wedge pattern in upcoming sessions.
Ordinals – Could It Follow CORE’s Path?
Just like CORE, ORDI has been in a falling wedge pattern since March 2024, peaking at $96.53 before correcting to critical support at $8.42. The MACD is beginning to show signs of reversal, hinting at potential price recovery similar to CORE’s move. If buyers step in, ORDI could attempt a rally toward the upper resistance of the wedge.
What’s Next?
With CORE already showing a strong bounce from support, attention is on ORDI to see if it will follow suit. If broader market sentiment improves and technical indicators align, ORDI may be gearing up for a breakout similar to CORE's. Traders will closely monitor key resistance levels.
Despite the continuing decline of Ethereum, CORE shows strengthening, which could instill hope for a market recovery. The next moves may be crucial in determining the trajectories of CORE and ORDI in the near future.
